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Performance bonds and payment bonds are an important way for both the contractor and owner to ensure payment and completion of work for the project at hand. Research how much both a performance bond and payment bond costs (usually a percentage on the contract amount). Using one of your projects, analyze what a possible performance bond and payment bond price may look like for the project given the awarded contract amount. Deliverables 1. In 1-2 paragraphs explain your methodology to why you feel one of your projects would have bond amounts for given amounts Required Completion Date: April 13, 2021 Job 47: Heavy- Underground Utilities More Info CU'S Activity completed this period Direct Accumulated Labor work done Cost Direct Materials Cost Direct Equipment Cost Subcontractor Accumulated CU'S Cost Method Used Costs remaining OOO 100.00% 100.00% 100.00% $0 $0 $0 $25,160 $0 $0 $0 $0 $0 $0 $14,040 $0 $0 $0 $43,168 $95,872 $290,112 $536,504 0 0 0 Clear&Grub2 Rough Grading 1 Excavation2 Underground Pipe2 1,076 100.00% $31,320 $0 0 Clear & Grub Rough Grading Excavation Underground Piping Concrete (Form & Place) Backfill & Compaction Aggregate Base Paving Finish Grading 694 100.00% $22,656 $15,312 $18,096 $0 $110,976 0 Concrete 2 2,574 $74,844 $10,296 $0 3,301 OOO 43.81% 0.00% 0.00% 0.00% $0 $0 $0 $0 $0 $0 $84,942 $0 $0 $0 $0 $0 $0 $170,082 $0 $0 $0 563 839 2,243 Backfill&Compact3 AggBase 2 Paving3 Finish Grade3 Total job size: 28,241 Total Cus Complete: 21,295 Total contract price: $2,212,859 Percent Complete: 75.40% Performance bonds and payment bonds are an important way for both the contractor and owner to ensure payment and completion of work for the project at hand. Research how much both a performance bond and payment bond costs (usually a percentage on the contract amount). Using one of your projects, analyze what a possible performance bond and payment bond price may look like for the project given the awarded contract amount. Deliverables 1. In 1-2 paragraphs explain your methodology to why you feel one of your projects would have bond amounts for given amounts Required Completion Date: April 13, 2021 Job 47: Heavy- Underground Utilities More Info CU'S Activity completed this period Direct Accumulated Labor work done Cost Direct Materials Cost Direct Equipment Cost Subcontractor Accumulated CU'S Cost Method Used Costs remaining OOO 100.00% 100.00% 100.00% $0 $0 $0 $25,160 $0 $0 $0 $0 $0 $0 $14,040 $0 $0 $0 $43,168 $95,872 $290,112 $536,504 0 0 0 Clear&Grub2 Rough Grading 1 Excavation2 Underground Pipe2 1,076 100.00% $31,320 $0 0 Clear & Grub Rough Grading Excavation Underground Piping Concrete (Form & Place) Backfill & Compaction Aggregate Base Paving Finish Grading 694 100.00% $22,656 $15,312 $18,096 $0 $110,976 0 Concrete 2 2,574 $74,844 $10,296 $0 3,301 OOO 43.81% 0.00% 0.00% 0.00% $0 $0 $0 $0 $0 $0 $84,942 $0 $0 $0 $0 $0 $0 $170,082 $0 $0 $0 563 839 2,243 Backfill&Compact3 AggBase 2 Paving3 Finish Grade3 Total job size: 28,241 Total Cus Complete: 21,295 Total contract price: $2,212,859 Percent Complete: 75.40%
